The notorious weekend traffic jams in the Lagos metropolis seems to be subtly creeping back after a forced absence. Traffic along the Egbeda – Iyana-Ipaja axis in the Alimosho area stretched for over one kilometre and nobody seemed to know the cause. Restless commuters were urging the driver to make a detour and rejoin the main route later so as to avoid the heavy traffic and save time and fuel.

The slow down in secondary market for FGN bonds last week will persist this week as the Debt Management Office (DMO) conducts its monthly auction this week. Last week, activities were low at the secondary market with yields on all the trading securities

Following the slump in the real estate market last year, occasioned by the global financial meltdown and the intervention of the Central Bank of Nigeria (CBN) in the banking sector, UACN Property Development Company Plc (UPDC) recorded a 35 percent slide in profit after tax (PAT) for its operations in 2009 compared to the preceding financial year.

The challenges confronting housing finance, from the perspectives of both lenders and borrowers, will be under scrutiny at the sixth edition of the International Housing Finance Workshop (IHFW) holding in Lagos at the end of this month, June 28 to 30 to be precise.

President Goodluck Jonathan has commended the Rivers State government on the ongoing N40 billion Rainbow Town Estate project in Port Harcourt, initiated by the state in partnership with First Bank of Nigeria Plc.